Investors' Soapbox PM

Major Oils Face Upstream Drift

The sector is seeing the first negative year-over-year earnings-per-share comparisons since the third quarter of 2002, notes UBS Investment Research.

Updated Jan. 17, 2007 11:59 p.m. ET

UBS Investment Research

COMPANYWIDE QUARTERLY EARNINGS decreased an estimated 20% year over year and were down 25% versus the third quarter of 2006. This is the first negative year-over-year earnings-per-share comparison for the sector since the third quarter of 2002.